Meet the company behind BHIM app security

Lucideus is a risk assist management and Digital security service providing startup. The startup won ‘Best IT Startup of India’ award from Government.

The startup bagged the award under the IT and ITES (IT-Enabled Services) category at the National Entrepreneurship Award 2016 organized by the Ministry of Skill Development and Entrepreneurship on Tuesday. The event was attended by Home Minister Mr. Rajnath Singh; Rajiv Pratap Rudy, Minister of State for Skill Development & Entrepreneurship and senior officials

The Delhi-based startup was founded by an engineering graduate Saket Modi in 2012. The startup is a cyber security company that offers consultancies, training, and solutions to counteract cyber attacks. The company aims to offer generic and customized products and services to keep web spaces and networks protected.

Lucideus is behind the security for BHIM (Bharat Interface for Money) app which is Aadhar-based mobile payment platform. They provided security for the application and running the operations successfully. The encryption used for the application to communicate with the payments server is the same that is used in Google Wallet or Apple Pay.

The investors of startup include Amit Chowdhary, Senior Vice-President of Snapdeal and Sanjay Bhaweja, Chief Financial Officer of Flipkart. Luideus have received an undisclosed amount of seed funding from both the investors.

Security is important aspect for any application when scaling up. Data protection is considered as the key aspect to build trust with the end users. With more and more digital penetration, companies are focusing ways to prevent hackers get access to sensitive information.

On winning the title, Saket Modi, CEO of Lucideus said: “I hope we will be able to further inspire and inculcate a technology-enabled start-up eco-system that will solve the on-ground problems of 1.2 billion Indians.” Read more Startup News.

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